Tamboran Resources Corporation Stock Market Press Releases and Company Profile
Tamboran Commences Drilling at Shenandoah South 1H
Tamboran Commences Drilling at Shenandoah South 1H

Sydney, Aug 1, 2023 AEST (ABN Newswire) - Tamboran Resources Limited (googlechartASX:TBN) (googlechartTBNNY:OTCMKTS) has successfully commenced drilling of the Shenandoah South 1H (SS1H) well with the Helmerich & Payne, Inc. (H&P), (googlechartNYSE:HP), super-spec FlexRig(R) Flex 3 Rig.

The SS1H well is targeting the deeper Mid-Velkerri "B Shale" in EP 117. The deeper shale is expected to host higher pressures and therefore deliver higher flow rates than the Amungee 2H (A2H) well location in EP 98.

Drilling activity is expected to take ~45 days, including a pilot hole and 1,000-metre horizontal section. The stimulation program is planned to commence during the fourth quarter of 2023.

On completion of the SS1H flow testing, Tamboran and Daly Waters Energy LP will complete the farm-in requirements to earn the 77.5 per cent interest (38.75 per cent each) and operatorship of the EP 76, 98 and 117 permits. Falcon Oil and Gas Australia Limited will hold 22.5 per cent.

Success at the SS1H well location could support the pilot development investment decision, which includes use of the Clean Energy Fuels Australia (CEFA) facilities and APA Group (googlechartASX:APA) pipeline to the Amadeus Gas Pipeline (AGP). Tamboran is targeting first domestic gas sales from the pilot development by the end of 2025.

Fluid lab analysis from the A2H well is ongoing with remedial intervention work planned for later this year, subject to joint venture approvals. The intervention is likely to coincide with activities at the Amungee well pad where the JV is planning to drill the Amungee 3H well following SS1H.

Tamboran Resources Limited Managing Director and CEO, Joel Riddle, said:

"We have recommenced our FY24 drilling activities with the Shenandoah South 1H well in EP 117. This location has been identified by Tamboran as the most likely region to replicate the successful flow results delivered from the Tanumbirini 2H and 3H wells in the EP 161 acreage, where Tamboran has a 25 per cent working interest.

"The SS1H well is key to progressing our proposed pilot development from the location adjacent to the AGP, where the joint venture is targeting first gas by the end of 2025. This is expected to deliver much needed gas volumes to the NT and East Coast gas markets at a time when AEMO and ACCC are forecasting a potential shortfall in gas supply."

About Tamboran Resources Corporation

Tamboran Resources LtdTamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.



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